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Mortgage Lenders Seek Appeal Over Venue In Lehman Fight

Law360 (September 19, 2018, 7:23 PM EDT) -- Dozens of mortgage loan originators targeted by Lehman Brothers for $1.2 billion in settlement indemnification claims stemming from purchases of shoddy loans asked Tuesday for leave to appeal a decision keeping the adversary suits in New York bankruptcy court, arguing the jurisdictional issue “remains unresolved in the Second Circuit.”

In response to an August ruling by U.S. Bankruptcy Judge Shelley C. Chapman, mortgage lenders who sold home loans to Lehman Brothers before the investment bank’s 2008 collapse are hoping to get a second opinion on whether they must face claims related to the quality and indemnification agreements attached to those loans...

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